Escrow Documents definition
Examples of Escrow Documents in a sentence
Unless specifically provided herein, the Escrow Agent has no duty to determine or inquire into the happening or occurrence of any event or contingency or the performance or failure of performance of the other Parties with respect to arrangements or contracts with others, the Escrow Agent’s sole duty hereunder being to safeguard the Escrow Documents and to dispose of and deliver the same in accordance with this Escrow Agreement.
It is agreed and understood that in the event of disagreement between the Parties hereto, the Escrow Agent will, and does, reserve the right to hold the Escrow Documents in its possession, and all papers in connection with or concerning this escrow, until mutual agreement has been reached between the Parties or until delivery thereof is ordered pursuant to a final disposition reached pursuant to the dispute resolution provisions of Article 21 of the Comprehensive Agreement.
The Escrow Agent shall hold, manage, provide access to and dispose of the Escrow Documents in accordance with the terms hereof.
The Escrow Agent shall continue to serve as Escrow Agent until a successor is appointed and the Escrow Documents have been properly transferred to the successor Escrow Agent.
The Escrow Agent shall provide to each Party written acknowledgment of the receipt of the Escrow Documents and Source Code Escrows, and any subsequent additions or modifications to the Escrow Documents or Source Code Escrows, promptly upon receipt thereof.